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March 4, 2009 at 5:32 PM in reply to: Great Article in Vanity Fair by Michael Lewis on Iceland’s amazing bubble #360729March 4, 2009 at 5:32 PM in reply to: Great Article in Vanity Fair by Michael Lewis on Iceland’s amazing bubble #360839
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ParticipantAllow me to enlighten you, PR! Old Uncle Miltie was a one-trick pony. The tune he never tired of singing was that if you simply privatize everything and eliminate all government intervention, markets will miraculously self-regulate and produce wealth for all! Capital will magically find its way into the most productive roles and the world will be fully of happy joyous wealthy consumers. His philosophy is remarkably similar in its naive innocence to the economic theories of Karl Marx in that they both completely disregard the human race’s propensity towards greed and cheating. At the extremes of the spectrum, the left and and right wings of economics begin to eerily resemble one another. They both involve placing a lot of trust in unaccountable goons.
Friedman’s influence in the Chicago School of Economics was behind a lot of deregulation in this country and others. Remarkably, the US hasn’t been deregulated as badly as some places (Iceland in 2003 or Argentina in the late 80s, for example). With no one guarding the chicken coop, the foxes have the run of the place and before you know it it’s been emptied out. Pretty good deal — as long as you’re a fox.
March 4, 2009 at 5:08 PM in reply to: Great Article in Vanity Fair by Michael Lewis on Iceland’s amazing bubble #360208blahblahblah
ParticipantThe Central Bank of Iceland is a case in point. Almost certainly Iceland will adopt the euro as its currency, and the krona will cease to exist. Without it there is no need for a central bank to maintain the stability of the local currency and control interest rates. Inside the place stews David Oddsson, the architect of Iceland’s rise and fall. Back in the 1980s, Oddsson had fallen under the spell of Milton Friedman, the brilliant economist who was able to persuade even those who spent their lives working for the government that government was a waste of life.
Ahhh yes, whenever you find a ruined economy, there’s always a link to old Uncle Miltie and his great theories. I like how the author of this article refers to him as “brilliant” even though his Chicago School of economics has helped wreck country after country while making a very select few extremely rich. Maybe he is “brilliant” if you’re one of those lucky few…
March 4, 2009 at 5:08 PM in reply to: Great Article in Vanity Fair by Michael Lewis on Iceland’s amazing bubble #360513blahblahblah
ParticipantThe Central Bank of Iceland is a case in point. Almost certainly Iceland will adopt the euro as its currency, and the krona will cease to exist. Without it there is no need for a central bank to maintain the stability of the local currency and control interest rates. Inside the place stews David Oddsson, the architect of Iceland’s rise and fall. Back in the 1980s, Oddsson had fallen under the spell of Milton Friedman, the brilliant economist who was able to persuade even those who spent their lives working for the government that government was a waste of life.
Ahhh yes, whenever you find a ruined economy, there’s always a link to old Uncle Miltie and his great theories. I like how the author of this article refers to him as “brilliant” even though his Chicago School of economics has helped wreck country after country while making a very select few extremely rich. Maybe he is “brilliant” if you’re one of those lucky few…
March 4, 2009 at 5:08 PM in reply to: Great Article in Vanity Fair by Michael Lewis on Iceland’s amazing bubble #360658blahblahblah
ParticipantThe Central Bank of Iceland is a case in point. Almost certainly Iceland will adopt the euro as its currency, and the krona will cease to exist. Without it there is no need for a central bank to maintain the stability of the local currency and control interest rates. Inside the place stews David Oddsson, the architect of Iceland’s rise and fall. Back in the 1980s, Oddsson had fallen under the spell of Milton Friedman, the brilliant economist who was able to persuade even those who spent their lives working for the government that government was a waste of life.
Ahhh yes, whenever you find a ruined economy, there’s always a link to old Uncle Miltie and his great theories. I like how the author of this article refers to him as “brilliant” even though his Chicago School of economics has helped wreck country after country while making a very select few extremely rich. Maybe he is “brilliant” if you’re one of those lucky few…
March 4, 2009 at 5:08 PM in reply to: Great Article in Vanity Fair by Michael Lewis on Iceland’s amazing bubble #360694blahblahblah
ParticipantThe Central Bank of Iceland is a case in point. Almost certainly Iceland will adopt the euro as its currency, and the krona will cease to exist. Without it there is no need for a central bank to maintain the stability of the local currency and control interest rates. Inside the place stews David Oddsson, the architect of Iceland’s rise and fall. Back in the 1980s, Oddsson had fallen under the spell of Milton Friedman, the brilliant economist who was able to persuade even those who spent their lives working for the government that government was a waste of life.
Ahhh yes, whenever you find a ruined economy, there’s always a link to old Uncle Miltie and his great theories. I like how the author of this article refers to him as “brilliant” even though his Chicago School of economics has helped wreck country after country while making a very select few extremely rich. Maybe he is “brilliant” if you’re one of those lucky few…
March 4, 2009 at 5:08 PM in reply to: Great Article in Vanity Fair by Michael Lewis on Iceland’s amazing bubble #360804blahblahblah
ParticipantThe Central Bank of Iceland is a case in point. Almost certainly Iceland will adopt the euro as its currency, and the krona will cease to exist. Without it there is no need for a central bank to maintain the stability of the local currency and control interest rates. Inside the place stews David Oddsson, the architect of Iceland’s rise and fall. Back in the 1980s, Oddsson had fallen under the spell of Milton Friedman, the brilliant economist who was able to persuade even those who spent their lives working for the government that government was a waste of life.
Ahhh yes, whenever you find a ruined economy, there’s always a link to old Uncle Miltie and his great theories. I like how the author of this article refers to him as “brilliant” even though his Chicago School of economics has helped wreck country after country while making a very select few extremely rich. Maybe he is “brilliant” if you’re one of those lucky few…
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ParticipantHer uterus is like a clown car.
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ParticipantHer uterus is like a clown car.
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ParticipantHer uterus is like a clown car.
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ParticipantHer uterus is like a clown car.
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ParticipantHer uterus is like a clown car.
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ParticipantI predict that this will not affect the value of homes in CV.
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ParticipantI predict that this will not affect the value of homes in CV.
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ParticipantI predict that this will not affect the value of homes in CV.
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